LoyalEFX Review – Is it a Scam or Legit Broker (2020)

In this LoyalEFX Review, we are going to take a look at the offer that this broker prepared for its traders. LoyalEFX operates on the financial market since 1995. When it comes to trading platforms, the broker features MT5. The LoyalEFX minimum deposit is 100 USD.

Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you can afford to take the high risk of losing your money.

Basic information from this LoyalEFX Review

Website address: loyalefx.com
Operated by: Loyale EFX
Licensed and authorised by regulatory bodies:
Supported languages: English, German, Spanish, French, Italian and Portuguese
Customer support available via: E-mail, live-chat
Contact details: [email protected] +44 (20) 80776226
Available deposit methods: Bank transfer, credit and debit cards
Available withdrawal methods: Bank transfer, credit and debit cards
Minimum deposit: 100 USD
Min. trade in lots: 0.01
Spreads: Minimal spread on the currency pair EUR/USD0,0 pips * on standard account type
Tradable assets: Forex, stocks, commodities, indexes
Mobile app: Yes
MetaTrader 4: Yes
Other trading platforms: MT5
Leverage: up to: 1:400
Social trading: No

LoyalEFX Fees (minimal spreads)

We have scanned fees (minimal spreads) that LoyalEFX charges when trading popular currency pairs, here is their breakdown in pips.

EUR/GBP EUR/USD USD/CHF EUR/JPY GBP/USD USD/JPY
* 0,0* * * * *

*Minimal spreads were recorded on 17.09.2020 at 09:52 for the standard account. LoyalEFX spreads in the table above serve as illustrative examples only as they for instance, may change according to the market conditions.

Random reviews of competing FX & CFD brokers: OneRoyal, VIBHSFinancial, RannForex and JustForex

Frequently Asked Questions

🧐 Is LoyalEFX a Scam?

In accordance with our research, LoyalEFX is an offshore unregulated broker. This alone does not mean it is a scam, but you should be even more careful with such a provider than with a regulated broker. In order to be sure that LoyalEFX is not a scam, read our trader reviews and check other popular trading related websites and forums.

🆓 What is the LoyalEFX minimum deposit?

In order to start trading with LoyalEFX, you have to deposit at least 20 USD (Trading accounts can also be held in USD).

📵 What deposit and withdrawal methods LoyalEFX supports?

LoyalEFX allows funding your account via Bank transfer, credit and debit cards.

⚖️ Would you recommend me choosing LoyalEFX?

We don’t have our own personal experience with LoyalEFX. However, because it is a broker that in accordance with our research lacks any regulation, we would be quite sceptical if we were to trade with such a provider. While there is a decent chance that LoyalEFX is not a scam, there is no reason to take the risk of trading trade with an unregulated broker, especially when considering there are hundreds of brokers regulated in the EU, Australia, Africa and the USA offering similar or even better trading conditions.

Should you be looking for a highly reliable broker featuring forex trading and CFDs, you can get your hands on our marketing broker IQ Option – 85% of retail CFD accounts lose money , which is a CySEC regulated company that allows trading from as little as $10 and charges highly competitive fees on all assets.

Broker Regulated by Regulatory agencies ensure that brokers operate in a transparent and honest way. They protect the best interests of clients and also feature an investor compensation scheme which protects trader´s deposits up to a certain limit. Some of the major regulators in the industry include the CySEC in Cyprus, the FCA in the UK and the ASIC in Australia. Min. deposit Trading platforms A trading platform is a computer or mobile software program used to execute transactions within the financial markets. Spreads Special features A list of features that provide a given broker with a competitive edge. Ad Disclosure The table below contains links to 3rd party websites of our top partners from whom we receive compensation at no additional cost to you.
CySEC £/€/$ 10 In-house built platform typical spread 3,0 PIPs ¹
  • User-friendly trading platform
  • International support
Start tradingRead a review
CySECFCA £/€/$ 1 MT4 & xStation 5 typical spread 0,9 PIPs¹
  • Competitive spreads
  • Great customer support
Start tradingRead a review
ASICCySECFCA £/€/$ 100 In-house built platform typical spread 0,6 PIPs ¹
  • User-friendly trading platform
  • Long-established company
Start tradingRead a review

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.

Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you can afford to take the high risk of losing your money.

¹ Variable spreads, spreads recorded for the EUR/USD on 05.10.2020 at 11:42 GMT.